Bitcoin Gains Institutional Momentum with Trillion-Dollar Lending Projections and New BlackRock ETF
Bitcoin Gains Institutional Momentum with Trillion-Dollar Lending Projections and New BlackRock ETF
The Bitcoin market is witnessing significant institutional engagement, with Ledn projecting the global Bitcoin-backed lending market to reach $1 trillion and aiming for $1.4 billion in loans by 2025. Adding to this positive trend, BlackRock has launched BITA, a new Bitcoin ETF employing a covered call strategy to generate income, holding both physical Bitcoin and its IBIT ETF. Meanwhile, crypto-friendly platform Robinhood announced a 10% staff reduction as part of a restructuring effort to enhance efficiency.
The company estimates it has a 30% share of the global consumer bitcoin-backed lending market, originating $1.4 billion in loans in 2025.
Robinhood cut 10% of its staff and expects $28 million in restructuring charges tied to flattening management layers and an efficiency push.
BITA holds bitcoin and BlackRock’s bitcoin ETF (IBIT) and generates income by selling call options on up to 35% of those IBIT holdings.